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around the world. president obama and congress return to work today with little progress seen on a deal to avoid the fiscal cliff as the government starts taking steps to buy more time before the u.s. hits the debt ceiling. the yen hits a two-year low against the dollar as the new japanese government battles to weaken currency. exports are rising, pushing the nikkei to its strongest gain in 20 years. .shares of toyota are heading higher after the u.s. settled a class action lawsuit. the $1 billion payment is already priced in. okay. welcome to "worldwide exchange." plenty of news to watch out of washington. all of this week, we thought it would be a quiet one. but i won't be inside the beltway if they want to get something done. the u.s. will hit the $16.4 trillion debt ceiling come monday. in a letter to congressional leaders, geithner says treasury will begin taking steps to save the government about $2 billion. geithner says it's harder to predict a time frame because the ongone fiscal cliff talks make it difficult to forecast next year's budget. among the measures treasury will take
christmas, congress and the white house will have to start to deal with what president obama called the real consequences of going over that fiscal cliff. >> nobody can get 100% of what they want. and this is not simply a contest between parties in terms of who looks good and who doesn't. there are real world consequences to what we do here. >> a short-term deal won't just focus on tax rates. the end of the payroll tax cut and the impact of the hike in the minimum tax on january 1st. over the weekend, we did hear from some republican moderates who say it may in fact be time to make some kind of a move. >> the president's statement is right, no one wants taxes to go up on the middle class. i don't want them to go up on anybody. but i'm not in the majority in the united states senate and he's the president of the united states. >> now the focus shifted to mitch mcconnell. the senate taking the lead on a compromise with democrats, and something that can get some support among house republicans. carl? >> hampton, thank you very much. hampton pearson in washington. >> the gift that keeps on givin
obama said "homeland" is his favorite show. my question is when you're dealing with live, real people who you are portraying or in the case of "homeland" or "24" when you're trying to deal with agencies that you are representing, what is that interaction like? we were talking a little bit in the room next door, maybe you can answer michael, how is tony blair's perception changed as a result of those films or the queen's perception changed in the minds of the public then we can talk about "homeland" and "24"? >> there are many things that you realize that you are working with when you do a film or a tv show that is -- has so much political emphasis. and one of the things is inevitably you come up against the agenda of people in terms of the agendas they have for looking at and judging politicians and public figures. which in my experience people tend to be more comfortable looking at things black and white and you want people to fit into a certain box so you can judge them against other people and make a choice and all that. and of course the first duty of an artist is to go beyond bl
. in other news, u.s. president barack obama has broken off his christmas vacation to resume talks on the so-called fiscal cliff, taxes and spending cuts unless democrats and republicans reach a deal by new year's eve. >> nearly all the major players in those negotiations are starting to agree on one thing, and that is that a deal is virtually impossible by that deadline. senior officials say there is little hope of a grand bargain to shave trillions of dollars off of america's mountain of debt. >> applause for the bell at the start of the trading day is a daily ritual at the new york stock exchange, despite the enthusiasm, traders are keeping an anxious eye on share prices. the fiscal cliff is on everyone's mind. u.s. treasury secretary timothy geithner has warned that his department will need to take extraordinary measures to postpone the upcoming government defaults. he plans adjustments to the national budget that would give the u.s. two months of grace. president barack obama has said he is still hopeful that a resolution can be reached this year. he cut short his vacation in hawaii to
. will congress and president obama be able to pull together a fiscal cliff deal in time? we'll let you know, when we come back. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> well, of course, it isn't just the fiscal cliff we're counting down to. it's new year's eve and we want to say happy new year to everyone who is joining us or watching the program here today. earlier, we asked have you made any resolution, trade or otherwise, for 2013. we've got a couple at least. one here from jeff who says i resolve to invest in pets and pampering. petsmart people love pets and profit from it. that's true, actually. ac tweets to accomplish m
. president obama said it is part of a deal that i want to make, those benefits should continue. the public has to take a firm stand. we have seen in the past that obama had to cut a deal in order to get those extensions. host: what specific benefits to these programs provide? guest: the usual weekly cash payout is about $300 a week. sometimes it can vary. in mississippi i want to say it is closer to do hundred dollars. host: how are the programs usually bonded? guest: there funded by payroll taxes. the state administers the programs and the money goes to the unemployed. host: talk about what qualifications people have to meet in order to apply. guest: generally you have to have basically a year of earnings. the earnings have to be a certain threshold. you have to have been let go from a job. it is not like you can just wore mauve and a cloud of anger and qualify for benefits. if you have been working at the mill 14 years, and lose your job and a layoff, it is pretty easy to get benefits. host: we have some of those qualifications a person must meet on the screen there. for people who have
. the market doesn't seem to care. >> all the big deal, boehner and obama tried to do last year, still have to do that, simpson boles-type thing. >> by what the secretary of the treasury said yesterday. >> right. >> thank you for being here. >> bromance. a lot of fun. make sure you join us tomorrow. "squawk on the street" begins right now. >>> good thursday morning, welcome to "squawk on the street" live from the new york stock exchange, i'm carl kin ten nia with melissa lee, cramer and neighborer are off today but we are joined by dennis. good morning to you dennis, thanks for coming in. futures today, a lot to deal with as you probably know. the fiscal cliff headline watch continues. you just heard john kanas say the market not too concerned. futures up 21 points. decent data out of europe, we will talk about in a minute what a day for the asian markets again. also coming up. our road map begins at andrews air force base where the president arrives in a couple of hours, cutting his hawaiian vacation short to address the fiscal cliff s there really any hope in the last attempt? does the ma
the middle class could be protected, we can get a deal here. president obama says $250,000 is the line, maybe i think $350,000 is the line, maybe someone else $500,000, maybe somebody else $150,000. we can meet somewhere and cut that reason somewhere in the middle. and save this country from t uncertainty, the uncertainty that plagues us right now. in the olden days -- and i say olden, a long time ago -- i was a stock stockbroker. i was an economics major and a stockbroker on wall street. the thing wall street and investors can take is uncertainty. if they know taxes are going up, they'll refigure things. if they know taxes are going down, they'll refigure things. if they know taxes are staying things, they'll figure it out. but right now they're frozen. because they don't know. and families are also in many ways frozen. they don't know whether they have to budt so that they'll have $200 -- $2,000 less next year. they don't know whether it will be $4,000. they don't know if it's ever going to change. and the uncertainty is -- is the fault of leaders who cannot get together. so i think it is c
the past year. that's likely to continue. even if we get a deal, what does this mean? it's a minimalist quick fix. it's not a debt and deficit grant grand bargain solution which obama and boehner were talking about weeks ago and it's probably not going to involve solving the debt ceiling problem. and, of course, we all saw what happened 18 months ago over the debt ceiling. it dragged on and on. bottom line, whatever happens in the next few days, markets, corporate america and consumers in america are probably going to have to deal with continued fiscal wrangling' in washington for weeks and weeks and weeks. >> we're going to talk more about the fiscal cliff and later on in the show. just coming back to europe for a second or touching on europe -- >> even more boring. >> because i'm quite looking forward to next year and i'm looking forward to hoping that we're not going to be sitting on politicians the same way we have over the last year, two years, looking at every single line that comes out of therefore mouths. i'm hoping we're going to see march of a sense of normality coming back in
the use of drone strikes by the obama administration, look to see companies launching drone war at home for deals to build unmanned aircraft for domestic use. the faa says there could be 30,000 uavs in u.s. skies by 2020. the teal group says domestic drones could be worth $89 billion over ten years, as everyone from homeland security to tmz wants permission to use them. >>> let's get some more insight on the defense skprkt how to play it as the fiscal cliff deadline grows closer. howard rubel is with jeffries. great to speak with you. and i guess key to understanding the impact on these individual stocks, as jane had pointed out in her piece, is to understand which programs might be protected, even with budget cuts that the industry is facing. the f-35, for instance, is one that might be protected. walk us through. which ones had the most protected streams of revenue? >> frankly, many of them do at the moment, because the pentagon has been very busy signing production contracts to get under the wire of the sequester. >> so, for instance, the general dynamics deal that was selling to the
revenue than that, if not all the way up to the level in president obama's budget. finally, that an agreement would include a significant extension of unemployment benefits. remember, there are 2 million people who would lose about $300 a week if this fiscal cliff passes and there's no deal whatsoever. guys, back to you in d.c. >> all right. john harward, thanks for keeping us posted. we're about six minutes before the bell rings in the final session of 2012. let's bring in matt. good to have you with us. the futures are not too bad. we're coming off five straight losing streaks. on friday we saw the vix post the low of the session. what do you think it will happen today? >> i'm not going to put a lot of credence in the futures this morning. i think that's out of the picture for a lot of people. they didn't really notice it because it happened after the close. we're really not going to put any credence in it downstairs today. obviously everything has to do with what they're going to negotiate starting at 10:00. funny thing is, why 10:00? why are we waiting so long? this is
. if there was a formula of "24" that would have been it. and i think these people saw and president obama sees as well there is something about the presentation of the complexity of some of the things that people who are charged with these jobs have to deal with. writing it and imagining it makes me glad it's not my job just imagining how tough some of these decisions must be makes you grateful. >> the verse that we show in frost nixon "the queen" and that is how much responsibility you take with that, especially when art itself is working in metaphors. when people ask me about there is a pivot al scene in "frost nixon" which never happened. how could you show that because that is a pivotal moment in the piece. and the same with "the queen," that never happened. nixon did used to make phone calls and a part of his research would be times he was on heavy medication at time and would make phone calls at times he wouldn't remember. his staff were told if the president calls you during the middle of the night stay on the phone, he will eventually fall asleep you put down the phone and never mention it. if
and president obama sees as well there is something about the presentation of the complexity of some of the things that people who are charged with these jobs have to deal with. writing it and imagining it makes me glad it's not my job just imagining how tough some of these decisions must be makes you grateful. >> the verse that we show in frost nixon "the queen" and that is how much responsibility you take with that, especially when art itself is working in metaphors. when people ask me about there is a pivot al scene in "frost nixon" which never happened. how could you show that because that is a pivotal moment in the piece. and the same with "the queen," that never happened. nixon did used to make phone calls and a part of his research would be times he was on heavy medication at time and would make phone calls at times he wouldn't remember. his staff were told if the president calls you during the middle of the night stay on the phone, he will eventually fall asleep you put down the phone and never mention it. if it was a ballet of frost nixon, is it a valuable argument to say fr
Search Results 0 to 12 of about 13